It's getting pretty cheap, considering the tangible book value is about $9/share. There was panic selling all thru the market today. It will get worse into the weekend. Obama has states wanting to leave the Union!! Egad.
The dust will likely settle after option expiration, i.e. after weekend. Also, book value is largely useless in this sector having no connection to asset value (metal in ground). As of now IAG looks cheaper than peers and its mines look a bit safer (better location) than most (we live in great times, Burkina Faso and Suriname are comparatively good locations).
futures up this morning , expcecting a little bounce in the morning on an up market as while book might be 9 and also the 52 wk low is nine but dont expect to see that unless the market continues lower through nxt wk and beyond. i bought at 12.10 and expect to see about 1.5-2% gain and im out as rarely hold through the wkend. waitng for bk value is like trying to catch the falling knife. most traders recognize that this is in oversold mode and will nibble early. glta